Election Season, COVID-19, Bitter Spats Create Perfect Storm for Stimulus Negotiations
The drama could lead to a faster or slower resolution
Negotiations overwill not resume until after and the races are called, that much is certain. But rising coronavirus cases, the and a battle of wills among three top US leaders is forming a triple-threat of complications that could either speed or delay the passage of a bill by weeks.
Economists forecast that surging cases of COVID-19 combined with a lapse in the, like , will hobble local economies and threaten to put "millions of Americans" at risk for having essential utilities shut off, like power and water (read more about ). Without more federal stimulus aid, state budgets could fall short by as much as $434 billion through 2022, according to an October report from Moody's Analytics.
Complicating the issue is an acrimonious turn in stimulus negotiation days ahead of the election, which saw top negotiators, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin, sling blame at each other over holding up a deal. The unfinished legislation -- which includes aand funding for a wide range of programs -- .
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